Direct-to-Consumer Genetic Testing Market: Industry Expert View on Future Growth and Market Trends
The growth of direct-to-consumer genetic testing market is attributed to the driving factors, such as the growing incidence of genetic disorders and increasing awareness about the potential benefits of genetic testing drive the market. However, the high cost and privacy concerns associated with direct-to-consumer genetic testing hamper market growth.
Various countries are implementing regulations and guidelines for DTC genetic testing editing in a complex global regulatory environment. The US Food and Drug Administration is increasing its oversight of DTC genetic testing companies to ensure accuracy and consumer safety. For instance, in 2020, the FDA granted a single DTC-GT company clearance for the CYP2C19 gene report to provide gene-based prescribing information for clopidogrel and citalopram, removing the need for confirmatory testing for this gene only.
Similarly, there were some recent launches of direct-to-consumer (DTC) genetic tests: Invitae Corporation launched its new genetic testing kits for cancer diagnosis, LiquidPlex Dx and FusionPlex Dx in Europe in February 2023. Helix launched its new genetic testing service, Helix DNA Insight, in March 2023. This service provides users with a comprehensive overview of their genetic health, including information on their risk of developing certain diseases, their ancestry, and their genetic traits.
The direct-to-consumer genetic testing market comprises top players such as Genesis Healthcare Co, Ancestry Genomics Inc, Color Health Inc, Helix Inc, Myriad Genetics, Inc, Living DNA Ltd, 7andMe Inc, Genetic Technologies Ltd, Gene By Gene Ltd, and Full Genomes Corp Inc. The companies listed above are implementing various strategies that have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
Various countries are implementing regulations and guidelines for DTC genetic testing editing in a complex global regulatory environment. The US Food and Drug Administration is increasing its oversight of DTC genetic testing companies to ensure accuracy and consumer safety. For instance, in 2020, the FDA granted a single DTC-GT company clearance for the CYP2C19 gene report to provide gene-based prescribing information for clopidogrel and citalopram, removing the need for confirmatory testing for this gene only.
Similarly, there were some recent launches of direct-to-consumer (DTC) genetic tests: Invitae Corporation launched its new genetic testing kits for cancer diagnosis, LiquidPlex Dx and FusionPlex Dx in Europe in February 2023. Helix launched its new genetic testing service, Helix DNA Insight, in March 2023. This service provides users with a comprehensive overview of their genetic health, including information on their risk of developing certain diseases, their ancestry, and their genetic traits.
The direct-to-consumer genetic testing market comprises top players such as Genesis Healthcare Co, Ancestry Genomics Inc, Color Health Inc, Helix Inc, Myriad Genetics, Inc, Living DNA Ltd, 7andMe Inc, Genetic Technologies Ltd, Gene By Gene Ltd, and Full Genomes Corp Inc. The companies listed above are implementing various strategies that have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
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